Brand Value Components

Brand Value Components

Brand Value Components

Brand Value Components

The concept of brand value (BV) began to be used in 1980s. The proliferation of associations and mergers among businesses has made the concept of (BV) important. The (BV) used as one of the business strategies is increasingly important.

Financial Brand Value in Businesses

It consists of numerical and material values. The sum of the expenditures (marketing, advertisement, etc.) in all the works done for the brand in the process since the formation of the brand gives the (BV). Financial (BV) is criticized because it does not include consumer’s tendency towards brand. A brand-value measurement was developed that takes into account the consumer‘s brand tendencies.

Brand Value Components

Brand Value Components

Brand Value in Terms of Consumer

They are abstract values. The consumer’s brand sense, brand loyalty, brand attitude and the value of the consumer are based on the consumer’s mind. The positive impact of the brand name and symbol in the consumer mind directs the consumer’s preferences and alters the operator’s position on the market, making the brand valuable and ensuring that the business gains strength against its competitors. Consumer perceptions lead to more favorable results in establishing (BV) in the front-line holdings. Target market preference and price flexibility for brand-name enterprises. With (BV), businesses can provide brand loyalty. Strong (BV) adds additional value to the consumer. The main characteristics of products with high (BV) should be as follows:

  • To be able to present the benefits that the consumer really wants and
  • The fact that the brand can meet the changing consumer demands over time,
  • The fact that the relationship between the quality offered by the brand and the price demanded is convincing in the eyes of the customer,
  • Use of integrated marketing communications in creating and maintaining brand value
  • What branding means for consumers is very well understood,
  • Close monitoring of brand value and changes in this value
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